Most people should be feeling the impact fuel cost have been having on their finances. Without a doubt this is driving inflation and impacting the cost of living. But how did it get here?
- Minister tasked the BoJ and MoF to review hedging options. - April 20, 2020.
- Finance Minister praises decision not to go ahead with oil hedging as prices hit record low. - April 20, 2020.
- Jamaica decides against new oil hedge. - September 18, 2020.
https://jamaica-gleaner.com/article/business/20200918/jamaica-decides-against-new-oil-hedge
|
April 2020 |
June 2021 |
US$1 |
139.66 |
150.15 |
Fuel Type |
April 16, 2020 |
July 22, 2021 |
Rate of increase
(%) |
Gasoline 87 |
119.73 |
153.35 |
28 |
Gasoline 90 |
122.57 |
161.71 |
32 |
Auto Diesel |
116.96 |
143.90 |
23 |
IDB Partners with Bahamas to Launch New Oil
Hedging Solution For BPL. - July 15, 2020
https://www.iadb.org/en/news/idb-partners-bahamas-launch-new-oil-hedging-solution-bpl
While all that has happened this is how the economy has turned out.
- Total value added for the Jamaican economy grew by 0.6 per cent when compared to the fourth quarter of 2020.
- Jamaican economy contracted by 6.7% year-on-year in the first quarter of 2021.
- The economy declined by 11.0 per cent for the fiscal year 2020/2021 compared to fiscal year 2019/2020, reflecting the impact of COVID-19.
Jamaica's GDP Growth 2020 to 2021 March. |
International Merchandise Trade |
Stay tuned and look out for more revelations on the economy, covid-19 and the environment.
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